Diesel price slide continues

WASHINGTON — The U.S. national average price of diesel fell yet again over the past week, to $4.145 a gallon, according to the weekly report from the U.S. Energy Information Administration.

That’s a 6.2-cent-per-gallon decrease from the previous week, although prices are $1.282 higher than they were a year ago.

This is the sixth week in a row the EIA’s weekly average has dropped, since hitting a record high of $4.764 per gallon in mid-July.

The most expensive average retail prices were in the New England region, at $4.382. The lowest were in the Midwest, at $4.073.

In Canada, prices haven’t fallen as sharply, but the most recent weekly average is $1.33 a liter, which is about 15 cents-a-liter less than the peak high in early to mid-July.

Remote Atlantic regions — Newfoundland and Labrador in particular — see the highest prices. The average in St. John’s is about $1.50, nearly 20 cents less than a couple months ago.

In Southern Ontario, prices were between $1.25 and $1.30; and in Alberta, where pump prices are usually the lowest, it was about the same.

The Oil Price Information Service is warning against getting too optimistic about lower fuel prices, however.

"Despite the decline and some presently bearish sentiment, many experts in risk management are urging that customers consider using futures, options, and instruments that promise upside protection without giving up downside participation should another spike occur in the next nine months," OPIS writes in recent report about wholesale diesel prices.

— with files from Truckinginfo.com


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